CBS chief Les Moonves steps down amid sexual misconduct allegations

CBS Chief Executive Les Moonves has resigned after at least 12 women came forward to accuse him of sexual misconduct in a pair of New Yorker articles authored by Pulitzer Prize winner Ronan Farrow.

In a statement released Sunday evening, CBS said that Moonves would depart his position as chairman, president and CEO "effective immediately." COO Joseph Ianniello was announced as president and acting CEO "while the Board conducts a search for a permanent successor."

The network also announced that it and Moonves would donate $20 million to organizations that support "that support the #MeToo movement and equality for women in the workplace." The $20 million would come out of any compensation Moonves is due to receive following the conclusion of an ongoing investigation into the allegations against him.